Benchmark relocation brief
New York to Toronto
On a benchmark software-engineer offer, moving from New York to Toronto costs $79.0K in net worth over 10 years after real taxes and cost of living, never breaking even in that window. The crossover salary — where this move flips to winning — is $148.1K in Toronto.
Route
Current city
New York, United States
Destination
Toronto, Canada
Page URL: /compare/new-york-to-toronto
Benchmark verdict
The benchmark needs scrutiny.
-$79.0K over 10 years
Salary benchmark
$167k to $108k
-35% vs current city
Cost index
160 to 125
-22% vs current city
Break-even
Never
Within 10-year benchmark horizon
Salary gap
$40.1K
More needed in Toronto to break even
Net worth benchmark
New York
$152K
Toronto
$73K
Assumptions, sources, currency
Estimates, not financial advice
Your inputs
Salary, monthly spend, net worth, raises, savings rate, return, and horizon.
Currency model
All money values you enter are treated as USD. Tax lookups convert to each tax table's anchor currency using an ECB reference-rate snapshot (as of 2026-07-02).
Salary basis
Salaries are annual gross pay; take-home is estimated per city (see Tax model).
Salary benchmarks
New York: BLS OEWS May 2025 median wage — New York-Newark-Jersey City, NY-NJ metro (official). Toronto: MoveWorth curated benchmarks (USD equivalent) (estimated). Snapshot refreshed 2026-07-03.
Cost-of-living index
New York: MoveWorth curated index (city-core costs, US avg = 100). Toronto: MoveWorth curated index (city-core costs, US avg = 100). 100 = US average.
Rent baseline
US rent baselines in the Money section prefer the actual measured median (Census ACS 5-Year, table B25031, https://api.census.gov/data/2024/acs/acs5/groups/B25031.html) by bedroom for the city's metro area, falling back to official HUD Fair Market Rents (FY2026, Oct. 1, 2025 to Sept. 30, 2026, https://www.huduser.gov/portal/datasets/fmr.html) where ACS has no data for that city or bedroom size. Non-US rent remains unconnected in v1.
Tax model
Estimated income tax + employee social contributions. US cities use 2025 federal brackets + state + FICA; UK cities use real PolicyEngine income tax + National Insurance (Scotland's separate bands included); elsewhere an OECD-anchored effective rate. New York 35%, Toronto 32%. Household: single. Estimate, not a filing model.
Financial math
Compounded net worth from after-tax savings and expected annual returns.
Uncertainty band
The break-even chart's shaded band reruns your numbers ~300 times, nudging investment return, raises, and cost-of-living growth within typical historical swings. It shows a plausible range, not a guarantee, and is seeded from your inputs so it won't change on reload.
Culture & wellbeing
Life expectancy (World Bank) and life satisfaction (Our World in Data) are live, official per-country figures. Languages, English proficiency band, and marriage-equality status are hand-compiled reference facts, not a live feed — verify before relying on them for a legal decision.
Open-Meteo
Live current conditions, 7-day forecast, and current air quality (PM2.5, US AQI) for both city coordinates.
Live city signals
Open-Meteo, weather + air quality
New York
Toronto
City comparison
* Salaries are USD equivalents for mid-senior professionals. Local currency compensation may differ.
Cost of living index?
Toronto is approximately 22% cheaper than New York.
New York — industries
Toronto — industries
New York — lifestyle
Toronto — lifestyle
Run the real decision
The benchmark is only a map. Use your actual offer, spend, household, and risk profile.
Common questions
Is moving from New York to Toronto worth it financially?
On a benchmark software-engineer offer, moving from New York to Toronto costs about $79.0K in net worth over 10 years and never breaks even in that window. A stronger offer or lower spending can flip this — run the simulation with your real numbers.
What salary do I need in Toronto to make the move break even?
About $148.1K — roughly $40.1K more than the current Toronto benchmark offer of $108.0K.
How does the cost of living in Toronto compare to New York?
Toronto indexes at 125 vs New York at 160 (US average = 100), so day-to-day costs are about 22% lower.
How do software engineer salaries compare between New York and Toronto?
Benchmark software-engineer pay is $108.0K in Toronto vs $166.8K in New York (USD-equivalent, sourced market medians — see the sources section for provenance).
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